Volkswagen Buys €140M SGL Carbon Stake

Volkswagen will acquire a minority stake in German carbon-fibre company, SGLCarbon, FinancialTimes reports. The German car maker will take an 8.18% stake for €140 million in the Wiesbaden-based company that has a partnership with BMW.

Volkswagen acquired the 4.43% stake previously held by Sued-Kapitalbeteiligungs-Gesellschaft, a subsidiary of state-owned Landesbank Baden-Wuerttemberg, adds The Wall Street Journal. Volkswagen plans to increase its stake to 10%.

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